Batsaihan is a 41-year-old man who lives with his wife and 3 children in Ulaanbaatar city, Mongolia. His wife is on maternity leave. Two of his children study at the secondary school. He has been running a freight transportation business since 2003, using his truck.
In 2007, Batsaihan replaced the truck with a good one. During these 8 years, the business activities have been stable and profitable. He delivers the freight between Ulaanbaatar city and Zavhan province.
Batsaihan is an honest man who says, "I would like to expand the business activity by purchasing some beef and mutton in large quantities. I am planning to sell the meat to regular clients in Ulaanbaatar city." The total amount he is requesting is 2,000,000 MNT to buy meat.
This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.